Amendment status not verified — confirm the current text below against the official source.
Acquisition of Land by Transferable Development Rights, - The Authority may, with the consent of the owner, acquire land for public purposes, for providing infrastructure, amenities and facilities by way of according Transferable Development Rights through issue of Development Right Certificate in lieu of payment towards cost of land in such of manner as may be prescribed. Provided that the Transferable Development Tights may be arrived at on the basis of relative land values and equivalent amount of both export and import areas as per the Registration Department records. Such Transferable Development Right may be utilized as additional built space by the owner who can use this either by himself or transfer it to any other person in full or in part for use in a less developed area as prescribed, or 90 offset the money against the fees and charges payable for development permission all other rules and standing orders governed for construction of buildings.